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<br />lsrtWM me tasitr t 01 ism to W" ftlir6*&-
<br />awe, than faftiwn (IS ).days in arrears to cover the extra expense
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<br />involved in handling delinquent payments.
<br />[ !. That Borrower will pay the indebtedness, as hereinbefort
<br />pmMidetl. Privikge its reserved to palm the debs in whole or its pat
<br />3. That if the total of the payments made by the Borrower
<br />—. _ -- on afty indAmeffi clue date._ -- . -- .
<br />atncuat of
<br />under (b) of paravaph 2 prootditdt_shali eacaed ti11e_ --
<br />_ -_ -- _
<br />Qayrnents actually aide * the Lender for ground– rents, taxes and
<br />2. 71nt. together with, and in additioe to, the monthly
<br />assessments or insureenm premiums. as the rase may be. such ex-
<br />paymats of p'6nc!W and interest payable under the terms of the
<br />cess, if the loan is current, at the option of the Borrower. shalt be
<br />Me secured hereby, the Borrower will pay to the. Lender. on the
<br />credited by the Lender on subsequerut payments to be made by the
<br />first day of each moeth until the said note is fully paid, the
<br />Borrower, or refunded to the l)orroweir If, however, the monthly
<br />foliowittt stars:
<br />payments mind it by the Borrower mndec (b) of paragraph 2
<br />(a) Amount sufficient to provide the hokter hereof with funds
<br />preceding shdt not sufficient to pap ground rents, taxes and
<br />assessa crO or insurance premiums, as the case may be. when the
<br />to pay the matt tttwit Vp insurance psrenai um if this instrument and
<br />the ante secured hereby are insured, or a tmsthly charge (in lieu
<br />same �. due and payable, then the Borrower shall pay
<br />of a rnonrggr lnsuram►�e:ifM14Um) if they are head by the
<br />Secretary a[ Hmling �gikt -• Mirtloo ot. as follows:
<br />to the «amount
<br />�. necessary tq make tip the deficiency. on
<br />or before 4*!''�e.when payment of such Vowed rents, taxes,
<br />_
<br />ts. emu be any time
<br />(1).;f ' arid.ra- ;a}0 roec:-c+lt'.t5t� date aqd this p
<br />the Borrower sisalYT�:p Op in aoa0i�ry „
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<br />.. gwTr +}re t�i?JG;;���?�,"2!C'T� C' �,,,,,�at";...�•,!.r.t'/'rt':
<br />the 'td. ,. ,�sll.'pa�iitigt;riiA:,r( .: ins :/:.. ..•:..
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<br />,)i4tt#t ��1R*� #tt �atfit `esru:,„'.�)4 ' #r�.;�t�;�i - :f} �;y±�exi�r$. t 1G�Sder g.(i "�{{.r`
<br />�t'!,d �r: ,. itt ibt%tct the autlf At? +iii!
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<br />nice p�itivrar: wr •` 'w4i'(t!}s
<br />rower all is
<br />�Y9lkfrkf
<br />trf, 0f Haute itul tit
<br />ut� tq 1prt`[f Premium to theta a& r
<br />Lttl+ljit t:hai: ttf4f `bid r
<br />2 hereof which the + ' V. f ':
<br />Mta' pursuatt to the Nati'#fotuinps s1sx. as
<br />Secretary of Housing stud Urban t7tttiitehtrrdtrr:1 r;:
<br />atneitdari;:�pq k. ppikabie Regulations tilreirrunder, ot::
<br />maiming in the funds accumutated'iinifcir the proi+n ras'6f �Gy.p
<br />ara ra h 2 hereof if there shall 1e a default udc>tEr'an of the
<br />(11) M itntd so long as said acre of even date and this instnt
<br />ment are behii by the Secretary of Housing and Urban Develop.
<br />rent. a enatstltiy -charge (in heu or morrgage insurance premium;
<br />which stall. be in an amount equal tai one - twelfth (1/12) of one -
<br />half (1/2y per ceatums of the average outstanding balance due on
<br />the note comtputed without taking into accoam delinquencies or
<br />Prepayments;
<br />(b) A sum equal to the ground rents, if any, nev due, plus the
<br />premiums that will text become due and rayable on policies of
<br />fife and other hazard insurance covering the property, plus taxes
<br />and assessments next due an the property (all as estimated h) the
<br />Lender) kit all sums already paid therefor divided by the number
<br />of months to elapse before one (1) month prior to the date when
<br />such ground rents,'premiums. taxes and assessments will become
<br />delinquent, such sumo to be held by lender in trust to pay said
<br />ground rents. premiumf,•taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections of
<br />this paragraph and all payments to be made under the note
<br />secured hereby shall be added together, and the aggregate amount
<br />thereof shall be paid by the Borrower each month in a single pay-
<br />ment
<br />to be applied by the Lender to the following aims in the
<br />order set forth,
<br />(1) premium charges under gilt; contract of insurance witlhr
<br />the'Secretaryr of Housing and Vrbam i1evelopment. or monthly
<br />charge (in tai of mortWe insuranx- tyemium), as the cast may
<br />be;
<br />(11) Xnxrid rents, taxes, aswssmenr5, fire and other hazard
<br />insurance prrtx+^:ums;
<br />(111) interest on the note secured hereby;
<br />(iV) amortization of the principal of said note; and
<br />(V) late charges.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />ment shall, unless made good by the Borrower prior to the due
<br />date of the next such psymitnt. comutute an event of default
<br />under this mortgage. The Lender may collect a "late charge" not
<br />to erected four cents (44) for each dollar ($l) of each payme�,t
<br />r1
<br />P B P Y
<br />provisions of this instrument resulting in a public sale of the
<br />premises covered hereby, er if the Lender acquires the property
<br />otherwise after default,. tote Lender shall apply, at the time of the
<br />commencement of such• proceedings, or at the time the property is
<br />otherwise acquired, the balance then remaining in the funds ac-
<br />cumulated under (b) of paragraph 2 preceding, as a credit against
<br />the amount of principal then remaining unpaid under said note.
<br />and shall properly adjust any payments which shall have been
<br />made under (a) of paragraph 2.
<br />A. •that the Botrower will pay ground rents. taxes. assessments,
<br />%cater rates, and other governmental or municipal charges. fines.
<br />or impositions. for which provision has not been made
<br />hercinbefore. and in default thereof the lender may pay the same;
<br />and that the Borrower will promptly' deliver the official receipts
<br />thervfur. tit the Lender.
<br />5. 1-hc Borrower. will pay all taxes which may be levied upon
<br />the lender's interest in said real estate and improvements, and
<br />which may be levied upon this instrument or the debt secured
<br />hereby (but only to the extent that such is not prohibited by law
<br />and only to the extent that such wilt not make this loan usurious),
<br />but secluding any income tax, State of l:edwal. imposed on
<br />i - ender. and will file the official receipt showing f;wuh payment
<br />with the Lender. Upon violation of this undertsl YTetr, or if the
<br />Borrower is prohibited by any law now or herearcer existing from
<br />paying the whole or any portion of the aforesaid taxes. or upon
<br />the rendering of any court decree prohibiting the payment by the
<br />Borrower of any such taxes, or if such law or decree provides that
<br />any amount so paid by the Borrower shall be credited on the debt,
<br />the Lender shall have the right to give ninety days' written notice
<br />to the owner of the premises. requiring the payment of the debt.
<br />If such notice be given. the said debt shall become due. payable
<br />and collectible at the expiration of said ninety days.
<br />6. That Should the Borrower fail to pay any sum or keep any
<br />i.vvenant provided for in this instrument. then the !.ender. at its
<br />option, may pay or perform the same. and all expenditures so
<br />as 4f Hua921470?
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